The report, carried out by WildAid, compiles public opinion surveys, surveys from shark fin vendors and traders in the markets of Guangzhou, China (the current centre of China’s shark fin trade) and surveys of shark fin price data from Indonesian shark fishermen, as well trade statistics and media reports.

It found there had been an 82 per cent decline in sales reported by shark fin vendors in Guangzhou over the last two years and a decrease in prices (47 per cent retail and 57 per cent wholesale).

So far 24 airlines (including Philippine Airlines and Air New Zealand), three shipping lines, and five hotel groups have officially banned shark fin from their operations and 85 per cent of Chinese consumers surveyed online said they gave up shark fin soup within the past three years.

“Demand reduction can be very effective” says Peter Knights, Executive Director of WildAid. “The more people learn about the consequences of eating shark fin soup, the less they want to participate in the trade. Government bans on shark fin at state banquets in China and Hong Kong also helped send the right message and this could be a model to address issues, such as ivory.”